Silverjet take-up 'ahead of plan'

BUSINESS class-only airline Silverjet says demand has exceeded expectations since services to New York began in January. Silverjet's load factor in March was significantly ahead of hopes at 59 per cent, and the company added that forward bookings for the route between Luton and Newark Liberty International were stronger than forecast.

BUSINESS class-only airline Silverjet says demand has exceeded expectations since services to New York began in January.

Silverjet's load factor in March was significantly ahead of hopes at 59 per cent, and the company added that forward bookings for the route between Luton and Newark Liberty International were stronger than forecast.

The update came as Silverjet announced a £26m stock market fund-raising.

Proceeds

It said it planned to use the proceeds for expenditure not included in its original business plan, including the cost of acquiring Skylease and Flyjet in deals that enabled it to start flying five months earlier than planned.

The group is running one flight a day to New York, but plans are in the pipeline for a second daily flight to launch in July. Return fares start at £999, significantly undercutting existing business-class fares.